Tuesday03 December 2024
toshkent24.com

Kazakhstan and Russia have extended their agreement on cooperation in the supply of oil and petroleum products.

Kazakhstan and Russia have signed a protocol to extend and amend the intergovernmental agreement on cooperation in the supply of oil and petroleum products, originally established in 2010, as reported by Bizmedia.kz.
Казахстан и Россия обновили соглашение о сотрудничестве в области поставок нефти и нефтепродуктов.

The signed protocol renews the agreement effective January 1, 2025, introducing a number of key changes.

Under the agreement, the parties maintain the previous arrangement, whereby no export duties, as well as similar taxes and fees, are applied in mutual trade of oil and petroleum products.

Products supplied from Russia to Kazakhstan are subject to mandatory customs declaration on the territory of the Russian Federation, as if they were being exported outside the Eurasian Economic Union. Previously, supplies through pipelines during 2022–2024 were exempt from this requirement, but this provision has now been removed from the text of the agreement.

One of the significant innovations is the exclusion of the possibility to address contentious issues in the judicial bodies of the Eurasian Economic Community. Instead, the parties agreed to resolve disputes solely through consultations and negotiations.

The agreement will remain in effect until the beginning of 2028, after which it will automatically extend for five-year periods unless either party expresses a desire to terminate it.